ATHENS, Greece, March 28, 2012 /PRNewswire/ --
Coca-Cola Hellenic Bottling Company S.A. (Coca-Cola Hellenic) announces that its Board of Directors approved today certain changes to Coca-Cola Hellenic's corporate structure, subject to regulatory approval and approval by shareholders at the Annual General Meeting on 25 June 2012.
Under the proposed transaction Coca-Cola Hellenic's Greek operating assets and liabilities will be transferred to a wholly-owned subsidiary of Coca-Cola Hellenic in accordance with the provisions of Greek Law 2166/1993. The effective date for the transformation of the balance sheet will be 31 March 2012. The transaction does not require a valuation and will be undertaken based on book values, which will be verified by the certified auditing firm PwC. The completion of the transaction is expected to take place in the third quarter of 2012.
The proposed changes in the corporate structure which brings the operations in Greece in line with the majority of Group operations in other countries is intended to reduce complexity and will not have any impact on Coca-Cola Hellenic's customers, employees or shareholders. It will ensure a clear distinction between Coca-Cola Hellenic, which manages operations in 28 countries, and its operations in Greece, which produces, distributes and sells Coca-Cola Hellenic's products in Greece.About Coca-Cola Hellenic Coca-Cola Hellenic is the second-largest bottler of products of The Coca-Cola Company in terms of volume with sales of more than 2 billion unit cases. It has broad geographic footprint with operations in 28 countries serving a population of more than 570 million people. Coca-Cola Hellenic offers a diverse range of ready-to-drink non-alcoholic beverages in the sparkling, juice, water, sport, energy, tea and coffee categories. Coca-Cola Hellenic is committed to promoting sustainable development in order to create value for its business and for society. This includes providing products that meet the beverage needs of consumers, fostering an open and inclusive work environment, conducting our business in ways that protect and preserve the environment and contribute to the socio-economic development of our local communities.